Sino-Ocean Group’s Financial Update and Restructuring

Sino-Ocean Group Holding (HK:3377) has released an update.

Sino-Ocean Group Holding Limited has announced that they have not pre-funded the upcoming half-yearly interest payment of US$3,800,000 due on their US$200,000,000 3.80% credit enhanced green notes, with the trustee now entitled to draw on a standby letter of credit to fulfill obligations. Additionally, the company provided an update on its offshore debt restructuring, indicating that proceedings are moving forward with an English court hearing set for 18 October 2024 to potentially approve the restructuring plan.

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